Single period inventory problem, also known as the newsboy problem, is very significant in terms of both theoretical and
practical consideration. In real life, many products have a limited selling period, so newsboy problem provides a very useful
framework for making decisions on advanced booking of orders in a number of practical contexts, such as in fashion, sporting
and various service industries. Hadley and Whitin [9] were the first researchers to introduce the newsboy problem, developing
a numerical dynamic programming based approach to solve it. Gallego and Moon [5,6] defined the newsboy problem
as a tool to decide the stock of an item when (1) there is a single purchasing opportunity before the start of the selling period
and (2) the demand for the item is random